James W. Paulsen, Chief Investment Strategist for Wells Capital Management, kicked off the second day of Experian’s Vision 2016, sharing his perspective on the state of the economy and what the future holds for consumers and businesses alike. Paulsen joked this has been “the most successful, disappointing recovery we’ve ever had.” While media and lenders project fear for a coming recession, Paulsen stated it is important to note we are in the 8th year of recovery in the U.S., the third longest in U.S. history, with all signs pointing to this recovery extending for years to come. Based on his indicators – leverage, restored household strength, housing, capital spending and better global growth – there is still capacity to grow. He places recession risk at 20 to 25 percent – and only quotes those numbers due the length of the recovery thus far. “What is the fascination with crisis policies when there is no crisis,” asks Paulsen. “I think we have a good chance of being in the longest recovery in U.S. history.” Other noteworthy topics of the day: Fraud prevention Fraud prevention continues to be a hot topic at this year’s conference. Whether it’s looking at current fraud challenges, such as call-center fraud, or looking to future-proof an organization’s fraud prevention techniques, the need for flexible and innovative strategies is clear. With fraudsters being quick, and regularly ahead of the technology fighting them, the need to easily implement new tools is fundamental for you to protect your businesses and customers. More on Regulatory The Military Lending Act has been enhanced over the past year to strengthen protections for military consumers, and lenders must be ready to meet updated regulations by fall 2016. With 1.46 million active personnel in the U.S., all lenders are working to update processes and documentation associated with how they serve this audience. Alternative Data What is it? How can it be used? And most importantly, can this data predict a consumer’s credit worthiness? Experian is an advocate for getting more entities to report different types of credit data including utility payments, mobile phone data, rental payments and cable payments. Additionally, alternative data can be sourced from prepaid data, liquid assets, full file public records, DDA data, bill payment, check cashing, education data, payroll data and subscription data. Collectively, lenders desire to assess someone’s stability, ability to pay and willingness to repay. If alternative data can answer those questions, it should be considered in order to score more of the U.S. population. Financial Health The Center for Financial Services Innovation revealed insights into the state of American’s financial health. According to a study they conducted, 57 percent of Americans are not financially healthy, which equates to about 138 million people. As they continue to place more metrics around defining financial health, the center has landed on four components: how people plan, spend, save and borrow. And if you think income is a primary factor, think again. One-third of Americans making more than $60k a year are not healthy, while one-third making less than $60k a year are healthy. --- Final Vision 2016 breakouts, as well as a keynote from entertainer Jay Leno, will be delivered on Wednesday.

It’s impossible to capture all of the insights and learnings of 36 breakout sessions and several keynote addresses in one post, but let’s summarize a few of the highlights from the first day of Vision 2016. 1. Who better to speak about the state of our country, specifically some of the threats we are facing than Leon Panetta, former Secretary of Defense and Director of the CIA. While we are at a critical crossroads in the United States, there is room for optimism and his hope that we can be an America in Renaissance. 2. Alex Lintner, Experian President of Consumer Information Services, conveyed how the consumer world has evolved, in large part due to technology: 67 percent of consumers made purchases across multiple channels in the last six months. More than 88M U.S. consumers use their smartphone to do some form of banking. 68 percent of Millennials believe within five years the way we access money will be totally different. 3. Peter Renton of Lend Academy spoke on the future of Online Marketplace Lending, revealing: Banks are recognizing that this industry provides them with a great opportunity and many are partnering with Online Marketplace Lenders to enter the space. Millennials are not the largest consumers in this space today, but they will be in the future. Sustained growth will be key for this industry. The largest platforms have everything they need in place to endure – even through an economic downturn.In other words, Online Marketplace Lenders are here to stay. 4. Tom King, Experian’s Chief Information Security Officer, addressed the crowds on how the world of information security is growing increasingly complex. There are 1.9 million records compromised every day, and sadly that number is expected to rise. What can businesses do?  “We need to make it easier to make the bad guys go somewhere else,” says King. 5. Look at how the housing market has changed from just a few years ago: Inventory continues to be extraordinarily lean. Why? New home building continues to run at recession levels. And, 8.5 percent of homeowners are still underwater on their mortgage, preventing them from placing it on the market. In the world of single-family home originations, 2016 projections show that there will be more purchases, less refinancing and less volume. We may see further growth in HELOC’s. With a dwindling number of mortgages benefiting from refinancing, and with rising interest rates, a HELOC may potentially be the cheapest and easiest way to tap equity. 6. As organizations balance business needs with increasing fraud threats, the important thing to remember is that the customer experience will trump everything else. Top fraud threats in 2015 included: Card Not Present (CNP) First Party Fraud/Synthetic ID Application Fraud Mobile Payment/Deposit Fraud Cross-Channel FraudSo what do the experts believe is essential to fraud prevention in the future? Big Data with smart analytics. 7. The need for Identity Relationship Management can be seen by the dichotomy of “99 percent of companies think having a clear picture of their customers is important for their business; yet only 24 percent actually think they achieve this ideal.” Connecting identities throughout the customer lifecycle is critical to bridging this gap. 8. New technologies continue to bring new challenges to fraud prevention. We’ve seen that post-EMV fraud is moving “upstream” as fraudsters: Apply for new credit cards using stolen ID’s. Provision stolen cards into mobile wallet. Gain access to accounts to make purchases.Then, fraudsters are open to use these new cards everywhere. 9. Several speakers addressed the ever-changing regulatory environment. The Telephone Consumer Protection Act (TCPA) litigation is up 30 percent since the last year. Regulators are increasingly taking notice of Online Marketplace Lenders. It’s critical to consider regulatory requirements when building risk models and implementing business policies. 10. Hispanics and Millennials are a force to be reckoned with, so pay attention: Millennials will be 81 million strong by 2036, and Hispanics are projected to be 133 million strong by 2050. Significant factors for home purchase likelihood for both groups include VantageScore® credit score, age, student debt, credit card debt, auto loans, income, marital status and housing prices. More great insights from Vision coming your way tomorrow!          

It’s one of our favorite times of year. Yes, spring is in the air, and we’re delighted to spend a few days away from the office in picturesque Scottsdale, Arizona. But what really has us excited is the opportunity to connect with a diverse network of industry leaders from across the country at our 35th annual Vision Conference. We have a full agenda, featuring sessions on advanced data analytics, market trends, fraud and identity, regulatory hot topics and more. And our theme for this year is geared toward giving participants the tools and insights they need to take control of their respective businesses to grow new markets, increase existing customer bases, reduce fraud and increase profits. In addition to 70-plus breakout session, guests will be treated to several keynote addresses: Leon Panetta, former U.S. Secretary of defense and former Director of the CIA James W. Paulsen, Chief Investment Strategist, Wells Capital Management Jay Leno, Television Host, Author and Comedian Listen to Experian North America CEO Craig Boundy’s welcome message, and start your Vision three-day event with the goal of meeting and engaging with as many old and new contacts as possible. For individuals not attending this year’s Vision, stay tuned for learnings and insights that will be shared in the coming weeks. Attendees and non-attendees alike can also follow updates on Twitter and via #vision2016.  

According to a recent Experian survey, the majority of newlyweds say financial responsibility is a key quality in a spouse. Yet many neglect to discuss finances with their partner before marriage. Other factors unknown to newlyweds include: Their spouse’s credit score (40%) Their spouse’s annual income (25%) Their spouse’s long-term financial goals (31%) The amount of their spouse’s student loan debt (31%) As newlyweds face a blending of finances for a promising tomorrow, lenders can help by providing personalized credit education to start building strong relationships with these potentially loyal, creditworthy customers. Survey Results: Newlyweds and Credit

Four Experian employees reflect on financial lessons and challenges learned during their time served in the military. Pedro Martinez, based at Camp Lejeune in North Carolina, was earning a monthly salary of just $680 as a Private First Class for the Marine Corps. in 1988. Winter was nearing, and since he was living off base, he needed a heater. “I was able to purchase one with ‘easy credit’ for $15 per month, for 18 months,” said Martinez, now living in Costa Rica. “I ended up paying a lot more than driving to Kmart and getting one there if I had the money. But for the purchase I was able to make at the time, I had to finance it, and I remember the interest rate was almost 40 percent.” Fast forward decades later, and Martinez recalls those same “easy credits” and payday loans surround local bases. Advance paycheck services offering rates of 30 percent and beyond for brief, 15-day cycles abound. While military base consumer advisors can encourage personnel to steer clear, more formal protections have been lacking. Until now. “The Military Lending Act is definitely a great measure to assure a fair consumer treatment, regulate high-interest rates, and safeguard families from going bankrupt,” said Martinez. No one can tell the stories of military life better than those who have lived it. They understand the training, sacrifices, day-to-day grind as well as the experiences of managing life on base and far from home. Financial education is lacking among all consumer groups in the country, and it is easy for a few credit mishaps to take individuals to a place where they soon find themselves struggling to get out of debt and obtain affordable credit. “I witnessed countless friends in the military finance furniture, receive cash advances and take out loans on their cars, which ultimately hurt them financially,” said Marshall Abercrombie, who served five years as a Navy Corpsman with the Marines. “Unfortunately, there are more title loans, cash advance and furniture leasing companies found within military towns compared to legitimate financial institutions. So, when you combine word-of-mouth, inexperience and easy access you end up with necessary legislature like the Military Lending Act.” Abercrombie, who currently resides in the southeast, claims his first “solo” experience with a financial institution saved him from falling down a bad path. “I can remember gripping my diploma thinking ‘now what am I going to do with all this money I’m about to start making?’” said Abercrombie. “Fortunate for me I was immediately greeted by a very eager representative of Armed Forces Bank. Despite being only 19 years old, looking back it’s apparent how much opportunity someone like me represented to a bank given I now had a government job that required I set up auto-deposit for future paychecks.” Especially for those military members sent overseas, opportunities and challenges can be unique. Michael Kilander, now a Southern California resident, was deployed overseas in Germany in the early 90s with his wife and ran into trouble with a large U.S. bank. “We had a credit card that we fell a month behind in paying,” says Kilander. “We had the money each time but did not receive the statement/ bill until a week after the due date. The military mail system took a great deal of time, particularly if you lived off base in the local Germany economy, as we did.  We asked if the bank could mail the bill a little earlier, but they refused and were uninterested in the challenges of the APO system.  Consequently we had to keep track of the amount spend on the card and estimate the likely charges and pay before we received the bill.  We switched cards a few months later.” Raymond Reed, who enlisted with the Navy out of high school, was luckily advised by his parents to join a military credit union. “I did not realize I needed credit, and assumed credit was only offered to those with savings,” said Reed. “During my Navy tour, I joined a military credit union and since I did not have standard expenses, other than car insurance, which was covered by my paychecks.  At the end of my tour, I saved and paid cash for my motorcycle, as I was accustomed to since I had a nice savings established.” The stories of stresses and opportunities surrounding military and credit are diverse and widespread, but the positive news is updated regulations will add increased protections. Learn more about the Servicemembers Civil Relief Act and now enhanced Military Lending Act to understand the varying protections, as well as discover how financial institutions can comply and best support military credit consumers and their families.

I am pleased to share the news on this blog that Experian has signed a definitive agreement to acquire CSIdentity Corporation (CSID), a leading provider of consumer identity management and fraud detection services. For the Data Breach Resolution group in particular, this is a major development. It will enhance our capabilities to provide best-in-class identity theft protection services to our clients who have suffered a data breach. When breaches occur, they not only affect the company but also the consumers whose personal information was exposed.  It’s imperative that organizations offer quality protection in the aftermath. With CSID, we can now offer more flexible and tailored product configurations to meet client needs. The acquisition also expands our footprint globally for U.S. companies who have an international reach. Unfortunately, data breaches will continue to occur. Companies must prepare and enlist the best partners to help them through the process. We feel this makes us an even better leader in the industry. For additional details, read our press release. Visit our website for more information about our offerings and how Experian can help you prepare and respond to data breaches.

Television had its Twilight Zone, the Emmy-winning anthology series featuring tales rich in fantasy, morality and irony. Today's economy has its own Twilight Zone. It lies between the legitimate economy with its weekly paychecks, W2 forms and 401(K) plans, and the underground economy with its unreported, all-cash transactions. Call them "The Unbanked." Call them "The Credit Invisibles." Whatever label you choose, these men and women -- who number in the millions - want access to credit, but can’t be easily accessed with traditional credit models, and they lack a smooth on-ramp to grow in the credit universe. How a Worker Becomes "Credit Invisible" America's "credit invisibles" tend to be minimum- or low-wage workers. They exist in virtually every industry, although they tend to be concentrated in agriculture, food service, construction and manufacturing. Some work full-time for a single employer, while others work part-time or on a gig-by-gig basis. The FDIC estimates some 10 million Americans currently fit the definition of unbanked, while an additional 28.4 million are underbanked. Instead of traditional banks, this population tends to use the services of private check-cashing services and payday lenders for their financial services, which is not always advantageous for the consumer with these services’ sizeable expenses and transaction fees. The Payroll Card Alternative Recognizing the perils inherent in the current system, a number of companies have developed solutions to help those individuals who cannot and will not establish traditional checking and savings accounts. SOLE® Financial, a financial services company headquartered in Portland, Ore, offers the SOLE Visa® Payroll Card, allowing employees to enjoy the benefits associated with direct deposit checking accounts without the costs and restrictions traditional banks often impose. "From a payroll standpoint, paycards function just like bank accounts,” explained Taylor Ellsworth, content marketing manager for SOLE Financial. “The transfer happens on the exact same timeline as the paychecks that employers deposit to traditional bank accounts.” Additionally, any bill from a vendor that accepts electronic payments - either online or with a card number over the phone - can accept payments from the SOLE paycard. "For bills like rent, which sometimes can only be paid with a check or money order, cardholders can log in and use the bill pay option for $1 per bill to have a check issued to their landlord -- or any other recipient -- from their account,” said Ellsworth. Helping Credit Invisibles Build Personal Credit Files Another way companies are helping credit invisibles become visible is by considering non-retail payments, such as payments to utility companies, as part of a personal payment history. Traditionally payments to gas, electric, telephone, cable and other household service providers are generally not being reported unless the consumer is severely delinquent and thus on-time payment history is not included in credit scores. Experian recently investigated how including payments to energy utilities could affect men and women with "thin-file" credit portfolios. The subprime and nonprime consumers in the study received the greatest positive score impact, with 95 percent of subprime consumers and 75 percent of nonprime consumers experiencing a positive score change. A resounding 82 percent of subprime consumers in the study received a positive score impact of 11 points or more. The average VantageScore® credit score change for all participants was an increase of 28 points. Experian concluded, "positive energy-utility reporting presents an opportunity for energy companies to play a key role in helping their consumers build credit history. The ability for many of these consumers to become credit-scoreable, build a more robust credit file and potentially migrate to a better risk segment simply by paying their energy bills on time each month is powerful and represents an opportunity for positive change that should be not overlooked." Conclusion With income inequality growing, there is an increasing pressure to find ways to improve the prospects of the tens of millions of Americans who live on the farthest edges of the American economy. New technologies and ways of looking at credit can offer the unbanked and the under-banked ways to improve their economic situation and move closer to the mainstream. By bringing these millions into the light, those who issue and evaluate credit will create millions of new customers who can, in turn, add new energy to the American economy.

This article first appeared in Baseline Magazine Since it is possible for cyber-criminals to create a synthetic person, businesses must be able to differentiate between synthetic and true-party identities. Children often make up imaginary friends and have a way of making them come to life. They may come over to play, go on vacation with you and have sleepover parties. As a parent, you know they don’t really exist, but you play along anyway. Think of synthetic identities like imaginary friends. Unfortunately, some criminals create imaginary identities for nefarious reasons, so the innocence associated with imaginary friends is quickly lost. Fraudsters combine and manipulate real consumer data with fictitious demographic information to create a “new” or “synthetic” individual. Once the synthetic person is “born,” fraudsters create a financial life and social history that mirrors true-party behaviors. The similarities in financial activities make it difficult to detect good from bad and real from synthetic. There really is no difference in the world of automated transaction processing between you and a synthetic identity. Often the synthetic “person” is viewed as a thin or shallow file consumer— perhaps a millennial. I have a hard time remembering all of my own passwords, so how do organized “synthetic schemes” keep all the information usable and together across hundreds of accounts? Our data scientists have found that information is often shared from identity to identity and account to account. For instance, perhaps synthetic criminals are using the same or similar passwords or email addresses across products and accounts in your portfolio. Or, perhaps physical address and phone records have cross-functional similarities. The algorithms and sciences are much more complex, but this simplifies how we are able to link data, analytics, strategies and scores. Identifying the Business Impact of Synthetic-Identity Fraud Most industry professionals look at synthetic-identity fraud as a relatively new fraud threat. The real risk runs much deeper in an organization than just operational expense and fraud loss dollars. Does your fraud strategy include looking at all types of risk, compliance reporting, and how processes affect the customer experience? To identify the overall impact synthetic identities can have on your institution, you should start asking: Are you truly complying with "Know Your Customer" (KYC) regulations when a synthetic account exists in your active portfolio? Does your written "Customer Identification Program" (CIP) include or exclude synthetic identities? Should you be reporting this suspicious activity to the compliance officer (or department) and submitting a suspicious activity report (SAR)? Should you charge off synthetic accounts as credit or fraud losses? Which department should be the owner of suspected synthetic accounts: Credit Risk, Collections or Fraud? Do you have run any anti-money laundering (AML) risk when participating in money movements and transfers? Depending on your answers to the above questions, you may be incurring potential risks in the policies and procedures of synthetic identity treatment, operational readiness and training practices. Since it is possible to create a synthetic person, businesses must be able to differentiate between synthetic and true-party identities, just as parents need to differentiate between their child's real and imaginary friends.

Businesses are looking to international markets to fuel growth, but meeting regulatory requirements across the globe poses significant challenges. Changes in Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements are evolving at break-neck speed. In the past few years, financial institutions and corporations have incurred billions of dollars in fines, reputation damage, and even the possibility of criminal prosecution for not enforcing adequate regulatory controls. KPMG found that 70 percent of its respondents had received a regulatory visit within the past year focused on KYC and total investment in AML had increased by an average rate of 53 percent. As large as this additional investment may seem, there may be an even bigger cost to doing regulatory compliance the right way. For many businesses the customer experience is the biggest casualty of implementing a robust KYC program. In their Vision 2016 breakout session “Know your customer, meeting commercial requirements in a global marketplace,” Greg Carmean, Experian senior product manager, will be joined by Adel Shrufi, software development manager at Amazon Transaction Risk Management Systems. They will discuss: • How to streamline compliance to optimize the client experience • How to evaluate and select the best vendors to reduce compliance costs and operational vulnerabilities • What businesses need to consider to ensure successful launches in new international markets Watch our session preview video below: We’ll look forward to seeing you as we provide a road map for growth at this year’s Vision conference.

Experian’s 2016 Digital Marketer Report reveals the key issues impacting marketers today. 38% of marketers rank knowing customer needs, wants and attitudes as their top challenge. Other key challenges include: Increasing visibility over competitors (35%) Staying ahead of new marketing trends (33%) Integrating multiple marketing technologies and platforms (32%) Making messages relevant/contextual (27%) Companies can increase engagement by leveraging data and technology to understand customers and provide exceptional experiences through every channel, every time. >> Download The 2016 Digital Marketer Report

The numbers are staggering: more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, and an average balance of $29,000. In fact, a recent Experian study revealed consumer debt is decreasing in every major consumer lending category with the exception of student loans. Student loans have increased by 84 percent since the recession (from 2008 to 2014) and surpassed home equity loans, home-equity lines of credit (HELOC), credit card debt and automotive debt. While the student loan issue has been looming for years, the magnitude is now taking center stage with each 2016 presidential candidate weighing in on solutions. In an effort to provide deeper insights into the student debt universe, Experian’s Kelley Motley and Holly Deason will share a new analysis at Vision 2016 in a session titled, Get educated – a study in the student lending marketplace. They will be joined by Gordon Cameron, executive vice president of PNC. Among the findings they will share include a snapshot of consumers with student loans from three time periods – Pre-recession (December 2007), Recession (December 2009) and Post-Recession/Current (December 2015). At each of these time periods, they will reveal trends around outstanding debt, delinquencies, originations, and also a compare how consumers with student loans rank when it comes to Vantage Score distribution. Finally, their data will explore opportunities for consolidation, showing segments that might be best suited for  receiving offers from financial institutions based on Vantage Score, debt and total number of trades. Click here to learn more about Vision 2016 and the session on student loans.

As new vehicle prices continue to rise, more consumers are turning to leasing as a cost-effective auto financing option. Findings from the most recent State of the Automotive Finance Market report show that the average lease payment for Q4 2015 was $412 (versus the average loan payment of $493). Not surprisingly, due to the fact that most consumers tend to finance vehicles based on monthly prices, leasing reached a record high, accounting for 33.6% of all new financing during the quarter. Lenders can design more effective strategies by using analytics to gain insight into the latest trends and to target the right customers for automotive leases and loans. >> Video: Auto Acquisition Strategies

What difference does $4.40 make? It can’t buy you much on its own, but it can make a world of difference when you’re handling the aftermath of a data breach or other cyberattack. That’s how much cyber insurance protection reduces the per-record cost of a data breach, according to the Ponemon Institute’s 2015 Cost of a Data Breach report. Whether you’re a small business owner with just a few hundred customers or a global corporation with records in the millions, the cost of being without cyber insurance in the wake of an incident can be extreme. When you consider the sheer number of records involved in recent mega-breaches — more than 78 million in the Anthem breach alone — the cost reduction can easily soar into hundreds of million dollars saved. And while smaller businesses may have fewer records to be breached, the impact of an attack can be even more devastating to them than to global entities when they experience a mega-breach. Yet less than one-third (32 percent) of businesses surveyed for Ponemon’s study reported having cyber insurance. The percentage was a bit better when the Risk Management Society (RIMS) asked 284 of its members about cyber insurance; 51 percent reported having stand-alone cyber insurance policies. Even fewer small businesses report having cyber insurance. Just 5 percent of small business owners surveyed by Endurance International Group said they carried cyber insurance, despite 81 percent believing cybersecurity is a concern for small business. Those who have cyber insurance clearly understand its value. RIMS members said they bought policies to: Reduce the risk of an incident damaging their company’s reputation (79 percent). Minimize the potential impact of business interruption (78 percent). Aid in data breach response and notification (73 percent). What’s more, of the RIMS members who didn’t have cyber insurance, 74 percent said they were considering buying it within the next 12–24 months. While small business owners also appear aware of the risk, they seem less cognizant of the benefits of cyber insurance and other cybersecurity measures. Endurance found that although 94 percent of small business owners said they do think about cybersecurity issues, and nearly a third have experienced an attack or an attempt, just 42 percent have invested in cybersecurity in the past year. A widely reported study by the National Cyber Security Alliance asserts that 60 percent of small businesses that experience a data breach go out of business within six months. Cyber insurance premiums vary widely and are largely tied to a company’s revenues and exposure. Policies typically aim to address risks commonly associated with a cyberattack, including: Liability for loss of confidential information that occurs through unauthorized access to a company’s computer systems. Data breach costs including notification of affected consumers, customer support and providing credit monitoring to affected customers. The costs of restoring, improving or replacing compromised technologies. Regulatory compliance costs. Business interruption expenses. Of course, like virtually any other type of insurance, cyber insurance policies can be customized to address the risks facing the individual policy holder. Many in the insurance industry feel that cyber insurance products have matured, evolving into a type of protection that businesses both large and small simply can’t afford to do without. When you consider the devastating risk of facing a cyberattack without insurance, that simple per-record cost savings of just $4.40 takes on a much deeper meaning. While more large companies are seeing the value of cyber insurance, small business owners need to begin incorporating this valuable type of protection into their overall cyber security plans. Learn more about our Data Breach solutions

Whether its new regulations and enforcement actions from the Consumer Financial Protection Bureau or emerging legislation in Congress, the public policy environment for consumer and commercial credit is dynamic and increasingly complex. If you are interested to learn more about how to navigate an increasingly choppy regulatory environment, consider joining a breakout session at Experian’s Vision 2016 Conference that I will be moderating. I’ll be joined by several experts and practitioners, including: John Bottega, Enterprise Data Management Conor French, Funding Circle Troy Dennis, TD Bank Don Taylor, President, Automated Collection Services During our session, you’ll learn about some of the most trying regulatory issues confronting the consumer and commercial credit ecosystem. Most importantly, the session will look at how to turn potential challenges into opportunities. This includes learning how to incorporate new alternative data sets into credit scoring models while still ensuring compliance with existing fair lending laws. We’ll also take a deep dive into some of the coming changes to debt collection practices as a result of the CFPB’s highly anticipated rulemaking. Finally, the panel will take a close look at the challenges of online marketplace lenders and some of the mounting regulations facing small business lenders. Learn more about Vision 2016 and how to register for the May conference.

A recent Experian study reveals that tax filing, document collection and refund processing are done online more often, yet only 6% of consumers file taxes on a computer with up-to-date antivirus software. 79% filed their most recent tax return online, up from 73% in 2011 18% scan and save their tax documents electronically, up from 6% in 2011 More than 75% of respondents have used EFT for tax refunds As electronic filing continues to grow, identity theft is likely to increase. While consumers should take steps to protect themselves, businesses also need to employ identity theft protection solutions to safeguard consumer information. >> Identify and prevent fraud